Opportunity To Grab Benefits With Mcx Trading Tips

 

Market Outlook

MCX Gold price confirmed breaching 31550 level after ending yesterday’s trading above it, to activate the bullish trend scenario again, the bullish trend will be suggested in the upcoming sessions unless breaking 31550 level and holding below it again, oil price succeeded to achieve our first waited target at 3620 after confirming breaking the symmetrical triangle’s support line yesterday, and it has negative motive that supports our expectations to continue the decline on the short term basis, Copper price declining below the current support and getting negative close will cancel the bullish trend to start targeting many negative levels by moving towards 421.

Fundamental News

On Tuesday Gold prices slipped in Asia as investors awaited the U.S. Federal Reserve’s latest monetary policy decision. On Tuesday Crude Oil prices were mixed morning in Asia, with WTI crude oil slipping below the $50 mark for the first time in a year on a surge of production in the U.S. but Brent oil inching higher.

GOLD

Gold showed sideways to bearish movement and found the major resistance level of 31100. Now if price sustains on lower level then it will test next support level of 30900. On other side 31500 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37450. Now if price sustains on lower level then it will test next support level of 37000. On other side 38000 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3380. Now if price sustains on lower level then it will test next support level of 3300. On other side 3500 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 421. Now if price sustains on lower level then it will test next support level of 415. On other side 430 will be major resistance level.

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